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Moody's revises outlook on GCB Bank

Moody's on Oct. 3 affirmed 's local-currency depositratings at B3/Not-Prime and revised the outlook to stable from negative.

At the same time, the agency affirmed the bank's baseline creditassessment and adjusted baseline credit assessment at "b3". Inaddition, Moody's affirmed GCB Bank's counterparty risk assessments atB2(cr)/Not-Prime(cr) and its foreign-currency deposit ratings at Caa1/Not-Prime.

The outlook revision reflects improving macro and operatingconditions for banks in Ghana, with good medium-term economic growth prospectsand support by foreign investments in the oil and gas sectors. Moody's expectsreduced pressure on the lender's asset quality and steadier earnings capacity.